1 1999 ., , -II. , " ", .
1 2002 . ; " " .
12 , , . 1 2011 . .
. , . , . , 45% , "" ( - 55%, - 45%).
- ( . Euribor - Euro Interbank Offered Rate) - () . 11 . , .
, - " ", . , - - , - : , , , , , .
1. , , , , , , .
2. , , , , . - .
|
|
3. , (1867 ., ) , ( , 1976 .), , , , , , .
4. , , ( ) - , , .
5. , , , , . , , .
-
-
-
-
-
-
-
-
-
1. : ?
2. ?
3. 1992 .?
4. . VIII " " ?
5. : ) ; ) .
6. ? ?
25.
25.1.
- , , .
, , , - . , , , . , , , , : . , - , (), , .
|
|
( ) (, , , .), "" , , . - , - , , . - - - .
, .. , - . . , . , , . ( 100, 1000 ) , , (. exchange rate).
, XX . - , . 1992 . , - 1976 . - :
1. , . , .
2. - (. exchange rate arrangement), . XX XXI . : .
"" . . . (+1 - 2%), (+7 - 10%). , . : , (40 ), (1 ) " ", .
|
|
. ( ), , . :
1) () (. managed floating), , , ;
2) (. independent floating), .. . .
1999 . , . :
1) ( , );
2) ( , , ( , ));
3) ( ).
1999 . .
- . , . .
- , . , .
. , . :
,
Er - ; Ph - ; Pf - ; En - , .
, . , , .. . , , , , , . , , . , , , . .
|
|
- . - . - , . , . , , . . - .
, - , , , . , , , , , .
25.2.
.
:
- , ( );
- , .
:
1 . ( ) | = | 1,0462 ( ) |
( ) - 1 () 100, 1000 ( , ), - , , , - , .
. , - . : GBP - G reat B ritain () p ound (). .
USD ( ), 840 ( ) | |
EUR ( ), 978 ( ) | |
JPY ( ), 392 ( ) | |
GBP ( ), 826 ( ) | |
CHF ( ), 756 ( ) |
, (ISO). , , .
, :
USD/CHF | = | 1,0462 |
/ | = |
.
.
, :
USD/CHF | = | 1,0462 |
/ ( )/( ) | = |
, .
() - .
, :
GBP/USD | = | 1,9671 |
/ ( )/( ) | = |
.
:
= ----------------.
|
|
: (Bid) (Offer).
.
Bid | Offer | |||
USD/CHF | = | 1,0462 | - | 1,0464 |
USD/CHF | = | 1,0462/64 |
Bid - . Bid , , , .. .
Offer - . Offer - - .
, , . (spread), (margin), .
-. - - , . , , .
- , . - , , .
:
31 2010 .:
1 = 46,3296 .;
1 . = 30,6640 .,
- :
.
25.3.
.
- - , , .
, , :
- ( );
- - ( ).
- , .
- :
- ( - , , --, );
- ( - -, );
- ( - , , ).
:
1) ;
2) , ;
3) , ;
4) ;
5) ;
6) ;
7) .
. , , 1,2 . 2001 . 2 . 2006 . 1980 . ( ) ( 59 35%) . . 88 - 90%, - 37%, - 20 - 22%, - 6%, - 13% ( 200%). . , 0,3 0,7%.
: . 2008 ., 119 . . , , , . , (60 - 70%) , , . , (30 - 40%) .
: ( 10 - 15% ) , .
25.4.
- .
Foreign Exchange Operations ( Forex, FX, ).
:
- ( , ), ;
- , , .
. :
- ( , , ..);
- , .. , (value date). , .
, .. .
:
1. (spot) - .
2. "", (today, tod) - .
3. "", (tomorrow, tom) - .
. () (. SWIFT - Society for Worldwide Interbank Financial Telecommunications) - .
6000 , 155 . 1989 . . , , , . , . 3 ( ) 20 . .
. : , , , , , , . : ( 5 ), , .